Enerpac net sales decline 2% in fiscal Q2
Enerpac Tool Group Corp. reported fiscal second quarter '24 net sales were $138 million, a 2% decline year-over-year, due to the disposition of Cortland Industrial.
Gross margin expanded 200 basis points year-over-year to 51.6%
“Enerpac posted solid second quarter results despite the broader macro environment and an overall slowdown in the industrial sector,” said Paul Sternlieb, Enerpac Tool Group’s president and CEO. “We were particularly pleased with the margin expansion, as we made further progress improving operating efficiency and SG&A productivity. Moreover, we believe organic sales growth in our Industrial Tools & Services (IT&S) segment continues to outpace the market. Given our solid performance through the first half of fiscal 2024, we remain on track to achieve our full-year guidance and longer-term financial objectives.”
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INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
